Smaller cap altcoin dominance is leaving the RSI oversold conditions (of less than 30) this week and is currently reading 31.73. This comes after nearly three months of being oversold after dominance fell below the 200 Week MA. The last time "Other altcoins" dominance spent this long in oversold conditions was at the end of 2015, for two months, before rising from less than a 1% to it's ATH above 15%. Altcoin speculation is coming...
Bullish arguments:
- RSI leaving oversold conditions
- MACD bullish crossover
- CMF bullish divergence
- Rising volume , 2x from Jan 18
Congratulations. This is a really great analysis and this chart supports my expectation of the altcoin season. We'll probably watch a short-term altcoin bull run before the end of the year, and then the bitcoin will perform. For this, the market needs volume and new investors and I think this will be with good news coming